Mediaalpha, Inc.: which funds bought and sold

Institutions that bought and sold Mediaalpha shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 68 institutions that filed 13F reports for both quarters added to or opened positions in Mediaalpha, and 94 cut or closed them. Together they added a net 237K shares, +0.5% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 156K shares (−1.5%); index fund managers were net sellers of 310K shares (−3.8%). 21 opened a new position and 28 sold out entirely.

Bought, Q2 2026 68 institutions, 21 of them new holders Sold, Q2 2026 94 institutions, 28 of them sold out

Net change, all compared +237K shares (+0.5%)

Net change, active managers −156K shares (−1.5%), 16 bought, 14 sold

Buyers versus sellers

institutions compared, 181

68 bought 19 94 sold

Active managers and hedge funds 16 bought · 14 sold · −156K

Index fund managers 1 bought · 8 sold · −310K

Other institutions 51 bought · 72 sold · +703K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Divisadero Street Capital Management, LP	+933K +1073.7%	1.0M	$12.8M
Evr Research LP	+440K New position	440K	$5.5M
Citadel Advisors LLC Hedge fund	+360K +157.1%	590K	$7.4M
Jane Street Group, LLC	+269K +94.9%	552K	$6.9M
Two Sigma Investments, LP Hedge fund	+234K +133.6%	409K	$5.1M
Jacobs Levy Equity Management, Inc Active manager	+221K +29.5%	971K	$12.2M
D. E. Shaw & Co., Inc. Hedge fund	+194K +56.7%	536K	$6.7M
BNP Paribas Financial Markets	+153K +272.2%	209K	$2.6M
Jpmorgan Chase & Co	+134K +7.7%	1.9M	$23.3M
Stifel Financial Corp	+126K New position	126K	$1.6M
Clearline Capital LP Hedge fund	+123K +4.8%	2.7M	$34.1M
Morgan Stanley	+118K +16.8%	821K	$10.3M
Acadian Asset Management LLC Active manager	+110K +13.0%	957K	$12M
Bank Of America Corp	+92K +32.9%	372K	$4.7M
Algert Global LLC Hedge fund	+86K +102.2%	171K	$2.1M
Dimensional Fund Advisors LP	+81K +13.1%	702K	$8.8M
Walleye Capital LLC Hedge fund	+80K New position	80K	$1M
Stoic Point Capital Management LLC	+76K +34.4%	297K	$3.7M
Winmill & Co. Inc	+65K New position	65K	$818,332
Nuveen, LLC	+51K +7.3%	752K	$9.5M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Citadel Advisors LLC Hedge fund	+360K +157.1%	590K	$7.4M
Two Sigma Investments, LP Hedge fund	+234K +133.6%	409K	$5.1M
Jacobs Levy Equity Management, Inc Active manager	+221K +29.5%	971K	$12.2M
D. E. Shaw & Co., Inc. Hedge fund	+194K +56.7%	536K	$6.7M
Clearline Capital LP Hedge fund	+123K +4.8%	2.7M	$34.1M
Acadian Asset Management LLC Active manager	+110K +13.0%	957K	$12M
Algert Global LLC Hedge fund	+86K +102.2%	171K	$2.1M
Walleye Capital LLC Hedge fund	+80K New position	80K	$1M
Lighthouse Investment Partners, LLC Hedge fund	+34K New position	34K	$427,393
Brevan Howard Capital Management LP Hedge fund	+27K New position	27K	$340,861

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
J. Goldman & Co LP Hedge fund	−585K −49.4%	598K	$7.5M
Philadelphia Financial Management Of San Francisco, LLC	−480K Sold out	0	—
Qube Research & Technologies Ltd Hedge fund	−323K −77.7%	92K	$1.2M
Franklin Resources Inc Active manager	−269K −78.3%	75K	$937,558
Pacer Advisors, Inc.	−258K Sold out	0	—
Arrowstreet Capital, Limited Partnership Hedge fund	−232K −21.8%	830K	$10.4M
Shay Capital LLC	−205K −26.5%	570K	$7.2M
Goldman Sachs Group Inc	−195K −31.2%	429K	$5.4M
Susquehanna International Group, LLP	−166K −87.7%	23K	$292,215
Y-Intercept (Hong Kong) Ltd	−158K Sold out	0	—
Renaissance Technologies LLC Hedge fund	−145K −20.1%	574K	$7.2M
UBS Group AG	−120K −78.2%	34K	$422,377
Vanguard Portfolio Management LLC Index funds	−114K −20.8%	433K	$5.4M
Caption Management, LLC	−112K −74.8%	38K	$471,564
Vanguard Capital Management LLC Index funds	−109K −7.9%	1.3M	$16M
Gsa Capital Partners LLP	−109K Sold out	0	—
AQR Capital Management LLC Hedge fund	−90K −18.7%	392K	$4.9M
Blackrock, Inc. Index funds	−84K −2.4%	3.4M	$42.6M
State Of Wyoming	−43K Sold out	0	—
State Of Wisconsin Investment Board	−36K −33.8%	70K	$883,784

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
J. Goldman & Co LP Hedge fund	−585K −49.4%	598K	$7.5M
Qube Research & Technologies Ltd Hedge fund	−323K −77.7%	92K	$1.2M
Franklin Resources Inc Active manager	−269K −78.3%	75K	$937,558
Arrowstreet Capital, Limited Partnership Hedge fund	−232K −21.8%	830K	$10.4M
Renaissance Technologies LLC Hedge fund	−145K −20.1%	574K	$7.2M
AQR Capital Management LLC Hedge fund	−90K −18.7%	392K	$4.9M
Los Angeles Capital Management LLC Active manager	−24K Sold out	0	—
Schonfeld Strategic Advisors LLC Hedge fund	−14K Sold out	0	—
Millennium Management LLC Hedge fund	−9,976 −21.2%	37K	$465,907
Balyasny Asset Management L.P. Hedge fund	−7,762 −7.1%	101K	$1.3M

New positions

largest by value

Institution	Shares	Value June 30, 2026
Evr Research LP	440K	$5.5M
Stifel Financial Corp	126K	$1.6M
Walleye Capital LLCHedge fund	80K	$1M
Winmill & Co. Inc	65K	$818,332
Hillsdale Investment Management Inc.	46K	$576,963
Lighthouse Investment Partners, LLCHedge fund	34K	$427,393
Brevan Howard Capital Management LPHedge fund	27K	$340,861
Tudor Investment Corp Et AlHedge fund	26K	$323,652
Allstate Corp	25K	$317,858
Axq Capital, LP	25K	$315,721

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Philadelphia Financial Management Of San Francisco, LLC	480K	$4.5M
Pacer Advisors, Inc.	258K	$2.4M
Y-Intercept (Hong Kong) Ltd	158K	$1.5M
Gsa Capital Partners LLP	109K	$1M
State Of Wyoming	43K	$399,909
Bridgefront Capital, LLC	26K	$243,381
Cannell & Spears LLC	25K	$236,220
Los Angeles Capital Management LLCActive manager	24K	$220,782
State Of Tennessee, Department Of Treasury	21K	$192,771
SG Americas Securities, LLC	19K	$181,000

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 154
Ten largest holders: 65.9%
Index fund managers: 16.1%
Active managers and hedge funds: 20.8%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	16	14	4	2	−156K	−1.5%
Index fund managers	1	8	0	0	−310K	−3.8%
Other institutions	51	72	17	26	+703K	+2.3%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Mediaalpha.

Only managers that filed a holdings report for both quarters are compared (181 here). 4 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

← Back to Mediaalpha, Inc. · Insiders · Politicians